Cadre logo

Cadre

Institutional-quality commercial real estate

real estate
Founded 2014Regulation Reg D
Min Investment$25K 
Target Return10–18%Annualized
Annual Fee1.5%of AUM
Liquidity3–7 years 
AccreditedYes 

Pros & Cons

Pros

  • Goldman Sachs backed
  • Institutional quality
  • Secondary market

Cons

  • $25K minimum
  • Accredited only
  • High carry fee
§ 01

The Brief

MoneyMade Verdict

Cadre is one of the most credible institutional-grade commercial real estate platforms available to accredited investors, with a reported 18.2% historical IRR and $4.3 billion in total transaction volume — but its $25,000–$50,000 minimums, multi-year hold periods, and unguaranteed liquidity make it a poor fit for anyone who can't lock up capital for the long term.

Cadre is a New York-based commercial real estate investment platform founded in 2014 by Ryan Williams, Jared Kushner, and Josh Kushner — the last of whom is no longer actively involved. The company specializes in institutional-grade, value-added commercial real estate investments for accredited investors, with a focus on multifamily, industrial, office, and hospitality properties in gateway U.S. markets. As of 2024, Cadre has facilitated over $5 billion in cumulative real estate transaction volume and reports a historical net IRR of approximately 18.2% on exited deals — a track record that places it among the better-performing crowdfunded real estate platforms when measured against sophisticated institutional benchmarks.

The platform offers three main products: individual deal investments (single-property opportunities with minimums typically in the $25,000 to $50,000 range), diversified funds pooling capital across multiple properties, and a more recent Cadre Direct Access Fund. All investments are structured as LLC interests where investors own a pro-rata share of the underlying real estate, with hold periods typically running 3 to 7 years before disposition. Cadre charges a 1.5% annual management fee plus 20% performance fees on returns above a preferred return hurdle — fee structures that are in line with institutional private equity but meaningfully higher than platforms like Fundrise or Arrived Homes. Exits occur when the underlying property is sold; there is no guaranteed secondary market, though Cadre has occasionally offered secondary trading opportunities to enable partial exits before full deal maturity.

§ 02

Target Projection

If the 1018% target is achieved every year, net of fees

Target low · 10%

$22,610

Target mid · 14%

$32,473

Target high · 18%

$46,053

Reality checkThis projection assumes the target return range is achieved every single year, net of fees. Real-world returns vary significantly — Cadre's actual history includes years of negative returns. Target ranges describe what the platform aims to achieve, not guaranteed outcomes. Past performance does not guarantee future results.
§ 03

The Cost of Fees

InvestmentHorizon
What a 1.5% annual fee actually costs over time.$10,000 · 10 yr · 14% gross return
$9K$19K$28K 0yr2yr4yr6yr8yr10yr
Value after fees
Fees paid (cumulative)
Value if fees were 0%

Gross ending value

$37,072

Net ending value

$32,473

Total fees paid

$4,599

§ 04

Head-to-Head

PlatformMinTarget ReturnAnnual FeeLiquidityAccredited
Cadre logoCadre$25K10–18%1.5% AUM + 10% carry3–7 yearsYes
Roofstock logoRoofstock$5K8–12%0.5% listing + 0.5% closing5+ yearsNo
RealtyMogul logoRealtyMogul$5K6–12%1–1.5% AUMQuarterly / 3–7 yearsNo
Prologis REIT logoPrologis REIT3–5% dividend yieldBrokerage commissionDaily (NYSE)No
Doorvest logoDoorvest8–12%Management fee5+ yearsNo
§ 06

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